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Funds, speculators pushing up energy prices - U.S. regulator

Reuters -- Hedge funds and other speculators are pushing up energy prices and hurting consumers, a top U.S. commodity regulator said, as oil and gasoline prices have surged to recent highs.

Bart Chilton, a commissioner at the Commodity Futures Trading Commission (CFTC), said that the markets watchdog would push on to impose maximum limits on speculative positions that investors can hold.

"There is plenty of reputable and reliable evidence documenting what many of us simply know: that excessive speculation can contort markets," Chilton said in the text of a speech due for delivery on Wednesday.

A Reuters analysis this week found that hedge funds have almost doubled their bets on higher oil prices since Dec. 11, taking their total speculative position close to the highest level ever reported...

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Submitted Feb 13, 2013 By: EZExit

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honda0105 Champion Author Tallahassee Posts:18,834 Points:1,638,195 Joined:Nov 2008	Message Posted: Feb 22, 2013 3:54:16 AM Ignore honda0105 Report Abuse Kar: knowing and getting it done are worlds apart in the Beltway.
KAR120CSII Champion Author Oregon Posts:3,282 Points:641,755 Joined:Apr 2010	Message Posted: Feb 21, 2013 6:45:45 PM Ignore KAR120CSII Report Abuse Peter DeFazio introduced HR 2003 -- a 0.01% tax on speculation -- at least one Congressman within the Beltway knows what should be done.
honda0105 Champion Author Tallahassee Posts:18,834 Points:1,638,195 Joined:Nov 2008	Message Posted: Feb 20, 2013 3:53:39 AM Ignore honda0105 Report Abuse kar, that would be good. Been said here many times. But that's not what they do inside the Beltway.
KAR120CSII Champion Author Oregon Posts:3,282 Points:641,755 Joined:Apr 2010	Message Posted: Feb 20, 2013 12:03:49 AM Ignore KAR120CSII Report Abuse Tax them a percentage of each trade and make them take delivery of the oil --
tomok Champion Author Portland Posts:33,610 Points:2,374,185 Joined:Aug 2006	Message Posted: Feb 19, 2013 3:39:39 PM Ignore tomok Report Abuse Funds, speculators pushing up energy prices with banks AND, don't forget Big Oil and Big Gas selling fuel and natural gas on the world market for higher prices! The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! The price at the pump needs to go down to $2/gallon - $3, $3.50/gallon or *$4.00 is Not the new low! More Refineries are Not the answer, Stop exporting that fuel is! Take care of the domestic fuel market first and above all else! Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high!
honda0105 Champion Author Tallahassee Posts:18,834 Points:1,638,195 Joined:Nov 2008	Message Posted: Feb 19, 2013 3:50:34 AM Ignore honda0105 Report Abuse any good excuse to drive prices up. In the last month, we went from 3.37 to 3.80+. No real reason.
honda0105 Champion Author Tallahassee Posts:18,834 Points:1,638,195 Joined:Nov 2008	Message Posted: Feb 17, 2013 10:02:01 PM Ignore honda0105 Report Abuse rajah: easier said than done.
honda0105 Champion Author Tallahassee Posts:18,834 Points:1,638,195 Joined:Nov 2008	Message Posted: Feb 17, 2013 10:01:46 PM Ignore honda0105 Report Abuse indeed turtle, we have no control over. Esp. since much of that specutraitor action is done by many big Pig Banks, some of the same we bailed out as "too big to fail" in the final days of GWB's administration.
USMCturtlehead Champion Author Lexington Posts:2,401 Points:131,625 Joined:Feb 2013	Message Posted: Feb 17, 2013 7:18:58 AM Ignore USMCturtlehead Report Abuse It is what it is. Speculation which we have no control over.
honda0105 Champion Author Tallahassee Posts:18,834 Points:1,638,195 Joined:Nov 2008	Message Posted: Feb 17, 2013 5:47:53 AM Ignore honda0105 Report Abuse thanks to Dubb-ya, specutraitors have free rei(g)n to rob the consumer blindly and bring down the economy at the same time.
Rajah Champion Author Illinois Posts:7,642 Points:2,329,230 Joined:Jul 2005	Message Posted: Feb 14, 2013 8:50:24 PM Ignore Rajah Report Abuse Get the speculators out of it. Make it such that buying oil means taking actual physical delivery of it with no middle men. From the well to the refinery without the opportunity to jack up the price.
Taxrefugee Champion Author Arizona Posts:1,540 Points:415,220 Joined:Jan 2012	Message Posted: Feb 14, 2013 2:55:03 PM Ignore Taxrefugee Report Abuse Same old c**p
dylan126 Champion Author Cleveland Posts:4,578 Points:622,295 Joined:Sep 2011	Message Posted: Feb 14, 2013 1:38:23 PM Ignore dylan126 Report Abuse greedy creeps
Tommyguns45 Veteran Author Illinois Posts:250 Points:156,840 Joined:Feb 2012	Message Posted: Feb 14, 2013 7:13:50 AM Ignore Tommyguns45 Report Abuse Hope the speculators has to put 100% down not 10 cents on the dollar like the last Depression.
GatorGuy Champion Author Columbia Posts:2,284 Points:1,226,490 Joined:Jan 2009	Message Posted: Feb 14, 2013 7:05:12 AM Ignore GatorGuy Report Abuse Great, thanks speculators. Who are these people anyway?
Wolfman_TJack Champion Author Twin Cities Posts:2,654 Points:488,965 Joined:Feb 2012	Message Posted: Feb 13, 2013 10:33:24 PM Ignore Wolfman_TJack Report Abuse Speculation = Consumer Abuse
crreed1 Champion Author West Virginia Posts:2,105 Points:2,551,690 Joined:May 2005	Message Posted: Feb 13, 2013 10:26:48 PM Ignore crreed1 Report Abuse this is old news
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Feb 13, 2013 10:15:47 PM Ignore tedjm1 Report Abuse Should put a stop to speculators. Know they make money for their company ans themselves, but they hurt everyone else. They make very big bucks and don't care.
FortVancouver01 Champion Author Washington Posts:1,252 Points:313,290 Joined:Jul 2012	Message Posted: Feb 13, 2013 10:14:16 PM Ignore FortVancouver01 Report Abuse If the leadership in the House of Representatives would put back the controls they eliminated on the speculators and hedge funds about ten years, maybe this would not be such a big problem.
boatfloyd Champion Author Jacksonville Posts:1,863 Points:416,650 Joined:Mar 2012	Message Posted: Feb 13, 2013 10:11:04 PM Ignore boatfloyd Report Abuse They know how to make the money.
gaspricewatchKS All-Star Author Kansas Posts:748 Points:279,090 Joined:Nov 2008	Message Posted: Feb 13, 2013 10:11:03 PM Ignore gaspricewatchKS Report Abuse this is not news
rahcat Champion Author Grand Rapids Posts:2,700 Points:690,875 Joined:Jan 2010	Message Posted: Feb 13, 2013 10:10:54 PM Ignore rahcat Report Abuse How about some public hangings to bring this to a halt.
madison8359 Champion Author Cleveland Posts:9,338 Points:1,621,970 Joined:Apr 2008	Message Posted: Feb 13, 2013 10:06:13 PM Ignore madison8359 Report Abuse No surprise here.
Rageagainsttm Champion Author Tampa Posts:8,427 Points:1,928,860 Joined:Jul 2007	Message Posted: Feb 13, 2013 10:05:37 PM Ignore Rageagainsttm Report Abuse Very true.
mlmeng Champion Author Michigan Posts:1,780 Points:619,735 Joined:Mar 2011	Message Posted: Feb 13, 2013 10:05:18 PM Ignore mlmeng Report Abuse When government intervention is not needed, government gets involved. However, when government intervention would actually help, they are no where to be found.
stratlinetime Champion Author Kalamazoo Posts:2,421 Points:591,535 Joined:Feb 2011	Message Posted: Feb 13, 2013 10:05:00 PM Ignore stratlinetime Report Abuse Welcome to the economic rollercoaster
PrinceLH Champion Author Ontario Posts:2,838 Points:566,720 Joined:Jun 2011	Message Posted: Feb 13, 2013 10:04:19 PM Ignore PrinceLH Report Abuse They'll get their money and the suckers will be left holding the bag, when Oil futures drop.
JasTheAce Champion Author Raleigh Posts:1,115 Points:201,010 Joined:Nov 2012	Message Posted: Feb 13, 2013 10:02:58 PM Ignore JasTheAce Report Abuse smh
bvrbill Champion Author Eugene Posts:3,445 Points:546,325 Joined:Jul 2011	Message Posted: Feb 13, 2013 10:02:40 PM Ignore bvrbill Report Abuse End speculation.
arb0526 Champion Author Greensboro Posts:2,117 Points:438,320 Joined:Mar 2011	Message Posted: Feb 13, 2013 10:02:07 PM Ignore arb0526 Report Abuse ok
s6sputnik Champion Author Austin Posts:6,337 Points:1,333,870 Joined:Jun 2007	Message Posted: Feb 13, 2013 10:01:40 PM Ignore s6sputnik Report Abuse It's way too high!
Alfied Champion Author Riverside Posts:8,079 Points:1,783,940 Joined:Jun 2001	Message Posted: Feb 13, 2013 9:59:52 PM Ignore Alfied Report Abuse Up and down, up and down, makes the world go around.
NAVYHM All-Star Author Cleveland Posts:761 Points:1,405,955 Joined:May 2008	Message Posted: Feb 13, 2013 9:59:05 PM Ignore NAVYHM Report Abuse REALLY...
clermont40miles Champion Author Cincinnati Posts:10,761 Points:1,800,610 Joined:Apr 2008	Message Posted: Feb 13, 2013 9:58:57 PM Ignore clermont40miles Report Abuse Speculators run amok. No change.
JamesCalvin Champion Author Lancaster Posts:3,344 Points:547,705 Joined:Nov 2011	Message Posted: Feb 13, 2013 9:58:46 PM Ignore JamesCalvin Report Abuse Of course!
grt197 All-Star Author Illinois Posts:712 Points:153,265 Joined:Jan 2013	Message Posted: Feb 13, 2013 9:58:37 PM Ignore grt197 Report Abuse yes yes
agr964 All-Star Author Fresno Posts:705 Points:75,205 Joined:Aug 2008	Message Posted: Feb 13, 2013 9:55:16 PM Ignore agr964 Report Abuse This has been known for years, and regulators are just now figuring it out? Did they finally get back from vacation? Kind of late now anyway. Gas is already $4 here. [Edited by: agr964 at 2/13/2013 11:56:47 PM EST]
mcmonsta Champion Author Honolulu Posts:3,347 Points:845,470 Joined:Sep 2009	Message Posted: Feb 13, 2013 9:54:49 PM Ignore mcmonsta Report Abuse and who is the control and enforcement body? and what slap on the wrist will violators get?
medic319 All-Star Author Akron Posts:733 Points:267,935 Joined:Mar 2012	Message Posted: Feb 13, 2013 9:48:48 PM Ignore medic319 Report Abuse I can't wait to see where this goes.
hawkman1950 Champion Author Michigan Posts:2,778 Points:569,230 Joined:Aug 2010	Message Posted: Feb 13, 2013 9:48:21 PM Ignore hawkman1950 Report Abuse Take everyone of these low life fockers outside and put a bullet in them.
DustyHorse Champion Author Virginia Posts:6,224 Points:1,417,780 Joined:Oct 2008	Message Posted: Feb 13, 2013 9:46:54 PM Ignore DustyHorse Report Abuse Exactly. I hope the can put in place laws to curb the rampant speculation. It is putting a huge drag on our economy. Our government seems to like the idea of high fuel prices. The are only concerned about renewable energy.
gasmack Champion Author Ventura Posts:1,752 Points:679,840 Joined:Feb 2011	Message Posted: Feb 13, 2013 9:44:13 PM Ignore gasmack Report Abuse Hope he wins the appeal.
furiousfowl Champion Author Riverside Posts:16,980 Points:2,771,710 Joined:May 2005	Message Posted: Feb 13, 2013 9:32:33 PM Ignore furiousfowl Report Abuse nothing new there
TheSnowstorm Champion Author Montreal Posts:8,732 Points:1,940,315 Joined:June 2005	Message Posted: Feb 13, 2013 9:29:43 PM Ignore TheSnowstorm Report Abuse Make the speculators take delivery of the product that they are buying. This will slow down if not altogether eliminate the wild price runs that they initiate.
D4444J Champion Author Albuquerque Posts:1,983 Points:616,560 Joined:Aug 2011	Message Posted: Feb 13, 2013 9:29:37 PM Ignore D4444J Report Abuse Speculators are nutty.
drz614 Champion Author Harrisburg Posts:2,444 Points:626,295 Joined:Aug 2011	Message Posted: Feb 13, 2013 9:29:01 PM Ignore drz614 Report Abuse in addition, couldn't possibly be because of lack of refinery capacity
mstearno Champion Author Dayton Posts:8,174 Points:1,755,920 Joined:Jan 2008	Message Posted: Feb 13, 2013 9:26:07 PM Ignore mstearno Report Abuse i'm tired of hearing about speculators it's dumb
goldrose1 Champion Author Cleveland Posts:11,076 Points:1,950,580 Joined:Feb 2005	Message Posted: Feb 13, 2013 9:23:56 PM Ignore goldrose1 Report Abuse Where is news in this?
wayoung56 Champion Author Alabama Posts:2,925 Points:845,985 Joined:Oct 2006	Message Posted: Feb 13, 2013 9:20:55 PM Ignore wayoung56 Report Abuse I think it's time to lynch some speculators and hedge fund managers...
Zeke33 Champion Author New Hampshire Posts:5,663 Points:1,636,150 Joined:Sep 2005	Message Posted: Feb 13, 2013 9:20:52 PM Ignore Zeke33 Report Abuse DUH!